The US dollar continued to weaken, and the LME lead was closed. Overnight, SHFE lead moved downwards after a higher opening and closed slightly higher. [SMM Lead Morning News]

SMM April 22:

Overnight, LME lead was closed due to the Easter holiday.

Overnight, the most-traded SHFE lead 2506 contract opened at 17,085 yuan/mt, initially fell to a low of 16,940 yuan/mt, then consolidated above the 16,950 yuan/mt level, and finally closed at 16,955 yuan/mt, up 15 yuan/mt, a gain of 0.09%. Macro-wise, Trump once again urged the US Fed to make an interest rate cut decision, and the US dollar fell to its lowest level in three years on Monday.